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The latest statutory 
register requirements

Debbie King reviews what your clients should do now to ensure they comply with the law on maintaining a register of people with significant control in a company

7 June 2016

All UK companies are required to keep up-to-date statutory registers, including a register of directors, register of shareholders, and a register of charges, but in an attempt to increase corporate transparency, from 6 April 2016, the government introduced the need for all UK companies and limited liability partnerships (LLPs) to maintain a register of people with significant control (PSC register).

This requirement was brought in as part of the provisions of the Small Business, Enterprise and Employment Act 2015 (the Act). The new register is governed by sections 81 and 82 and schedule 3 of the Act. Schedule 3 also inserts new parts 1A and 21A into the Companies Act 2006.

PSC register

The PSC register is a register of people and legal entities that have 'significant control' of a company (including dormant companies, companies limited by guarantee, and those registered as charities) or LLP. The PSC register is not a requirement for ...

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